Thursday, August 16, 2007

Latvian government offers TeliaSonera a privatization memo

CORRECTS AND REPLACES PREVIOUS VERSION

The Latvian government has presented a memorandum of undertstanding on the privatization of Latvian Mobile Telephone (LMT) and Lattelecom that it is ready to sign. A spokesman for TeliaSonera said, however, that negotiations were still continuing.
TeliaSonera, which now directly and indirectly controls just over 60 % of LMT would get 100 % control, while Lattelecom will be sold by both shareholders (TeliaSonera 49 %, the government - 51 %) to the management and staff of Lattelecom in a management buy-out. The latter is valued at around LVL 290 million.

More later, time allowing....

1 comment:

xpoc;) said...

Interesting that "negotiations" continue - one wonders about what :)
Is there a link to the MoU anyone - in Latvian or, even better, English?